Question
In: Accounting
In June, one of the processing departments at Furbush Corporation had ending work in process inventory...
In June, one of the processing departments at Furbush
Corporation had ending work in process inventory of $13,500. During
the month, $419,000 of costs were added to production and the cost
of units transferred out from the department was $441,000.
In the department’s cost reconciliation report for January, the
cost of beginning work in process inventory for the department
would be:
Multiple Choice
• $35,500
• $427,500
• $8,500
• $405,500
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In August, one of the processing departments at Tsuzuki Corporation
had beginning work in process inventory of $24,500 and ending work
in process inventory of $13,500. During the month, $288,000 of
costs were added to production.
In the department's cost reconciliation report for August, the
total cost to be accounted for would be:
Multiple Choice
• $38,000
• $312,500
• $600,500
• $625,000
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Moyas Corporation sells a single product for $10 per unit. Last
year, the company's sales revenue was $280,000 and its net
operating income was $17,000. If fixed expenses totaled $95,000 for
the year, the break-even point in unit sales was:
Multiple Choice
• 28,000 units
• 16,800 units
• 29,700 units
• 23,750 units
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Sabv Corporation's break-even-point in sales is $800,000, and its
variable expenses are 70% of sales. If the company lost $30,000
last year, sales must have amounted to:
Multiple Choice
• $770,000
• $740,000
• $700,000
• $530,000
Solutions
Expert Solution
| 1) |
| Cost of beginning work in process inventory = 441,000 + 13,500 - 419,000 |
| Cost of beginning work in process inventory = 35,500 |
| Hence, the correct option is $35,500. |
| 2) |
| Beginning work in process inventory |
| Add: Costs added to production during the month |
| Total cost to be accounted for |
| Hence, the correct option is 312,500 |
| 3) |
| Sales Revenue |
| Less: Net Operating Income |
| Total Cost (Fixed and Variable) |
| Less: Fixed Cost |
| Variable Cost |
| No of Units Sold = 280,000/10 = 28,000 units |
| Variabler cost per unit = 168,000/28,000 = $6 |
| Contribution margin pper unit= $10-$6 = $4 |
| Break even point in unit sales = Fixed cost/Contribution margin |
| Break even point in unit sales = 95,000/4 = 23,750 units |
| Hence, the correct option is 23,750 units. |
| 4) |
| Contribution Margin Ratio= Sales Ratio – Variable Expenses Ratio |
| Contribution Margin Ratio= 100% - 70% |
| Contribution Margin Ratio= 30% |
| Break even sales in dollars = Fixed Cost/ Contribution Margin Ratio |
| $800,000 = Fixed cost/30% |
| Fixed cost =800,000*30% = 240,000 |
| Target Sales in dollars= Fixed Cost + Target Profit/ Contribution Margin Ratio |
| Target Sales in dollars= (240,000-30,000)/30% |
| Target Sales in dollars= 210,000/30% |
| Target Sales in dollars= 700,000 |
| Hence, the correct option is $700,000. |
ekkarill92 answered 2 years agoRelated Solutions
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